Rajya Sabha Chairman M Venkaiah Naidu also said, "There
has been a lot of misunderstanding, disinformation and misinformation. It is
good that the minister has clarified."
On the government guarantee on deposits, Jaitley said,
"At the moment, security was up to level of 1 lakh rupees. The provisions
of this bill give a flexibility and the intention of the government also is --
for which we are awaiting the recommendations of the Standing Committee -- that
this amount should be raised. I am open to considering the suggestions in this
regard."
The finance ministry statement said the FRDI provides only
"additional protections" to the depositors in a m ore transparent
manner.
"Certain misgivings have been expressed in the media,
especially social media, regarding the depositor protection in the context of
'bail-in' provisions of the FRDI Bill. These misgivings are entirely
misplaced," the ministry said.
(theeconomictimes)